A Hearing Aid Tax Credit

Mar 24, 2010 by

Extensive research demonstrates that treatment with modern hearing aid instruments bring measurable improvement in social, emotional, psychological, and physical well being, for both patients and their family members. Untreated hearing loss can have many negative consequences. The inability to communicate effectively can lead to frustration, arguments, anxiety, social isolation, and depression. According to Sergei Kochkin, Ph.D. (Executive Director, Better Hearing Institute), about 66 percent of consumers age 55 plus with hearing loss, report that affordability of hearing aids is a key reason for their inability to purchase hearing aids.

Hearing aids are not covered under Medicare, or under the vast majority of state mandated benefits. In fact, 73 percent of hearing aid purchases involved no third-party payments, placing the entire burden of the hearing aid purchase on the consumer. Recent bills in the house (HR414) and Senate (S.1060) if passed could assist up to 1.2 million children and 11.5 million Americans ages 55 plus in treating their hearing loss. These bills provide a tax credit of up to $500 per hearing aid, available once every five years.

We all realize that better hearing helps you perform better, whether in business situations or engaging in hobbies or sports. Hearing is crucial to developing meaningful interpersonal relationships and the ability to enjoy life.

If you or a family member would like to benefit from a tax credit toward the purchase of hearing aids, the best thing you can do is write a personal letter to your congressperson and Senator urging support of House bill HR414 and Senate Bill S.1060. Guidance in writing this letter can be found at www.congress.org/congressorg/home.